Purchasing a home is most likely the largest financial transaction of your life. Unfortunately, most people enter into this transaction blindly and make mistakes that may cost them tens of thousands of dollars over the lifetime of their loan.

So, I have created a free guide that contains extremely valuable information designed to help you avoid costly mistakes when navigating the mortgage loan process.

To receive this free guide and other home buying tips, simply fill out the fields below and I will send you your first insider secret by email immediately.

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USDA Loan Eligibility

The USDA loan is part of a federal program that supports rural development. If you’re buying a home in a rural area, make sure to check with me to determine if you’re eligible for a USDA loan. The USDA loan requires ZERO down payments – which is almost unheard of these days.

Other benefits to the USDA loan includes a 30-year fixed interest rate – meaning the rate will not adjust over its lifespan. Also, no mortgage insurance is required on a USDA loan.

If you’re eligible for a USDA loan, this is a great route to financing. Below are some eligibility requirements:

Rural areaYou must purchase property within an eligible area. To determine if you’re eligible, check out the interactive map on the USDA’s website or call my office at (503) 585-5223.

Income requirementsThere is an income limit that is set for your county – you must not exceed that in order to be eligible. Some of the factors that go into determining include:

Your county

The total number of people in the household

The number of residents under age 18 (or disabled or full time students)

Your age

The number of disabled persons in the home

Your monthly expenses versus your income

Credit historyThis works differently than a credit score – your credit history will be reviewed to determine if you appear to be someone able to repay the debt and not default on the loan.